The Real Deal Miami

A peek inside Obama’s latest mortgage plan

March 29, 2010 12:07PM

With President Obama’s latest foreclosure prevention program recently unveiled, some may be wondering which homeowners will be able to take advantage of the $14 billion Troubled Asset Relief Program initiative. According to “Today” show personal finance correspondent Sharon Epperson, the program targets two kinds of at-risk borrowers: those who are unemployed and those who are underwater. And while the program won’t help the unemployed on the job line, jobless borrowers will be able to have their payments reduced for as long as six months, something that could help them out in the short-term, Epperson said.